DA Davidson Trims Braze (NASDAQ:BRZE) Target Price to $55.00

Braze (NASDAQ:BRZE) had its target price trimmed by DA Davidson from $65.00 to $55.00 in a research report sent to investors on Tuesday morning, Benzinga reports. The firm currently has a buy rating on the stock.

Other equities analysts have also recently issued research reports about the stock. Piper Sandler restated an overweight rating and issued a $51.00 price objective on shares of Braze in a research note on Friday, September 6th. Barclays dropped their target price on shares of Braze from $80.00 to $70.00 and set an overweight rating for the company in a research report on Monday, August 26th. Canaccord Genuity Group increased their target price on shares of Braze from $50.00 to $53.00 and gave the stock a buy rating in a research report on Friday, June 7th. Loop Capital reiterated a buy rating and set a $75.00 target price on shares of Braze in a research report on Tuesday. Finally, Raymond James dropped their target price on shares of Braze from $65.00 to $55.00 and set an outperform rating for the company in a research report on Friday, June 7th. Eighteen analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of Buy and an average target price of $59.18.

Braze Price Performance

NASDAQ:BRZE opened at $32.78 on Tuesday. The stock has a market cap of $3.33 billion, a P/E ratio of -25.61 and a beta of 1.07. Braze has a one year low of $31.80 and a one year high of $61.53. The company has a fifty day moving average price of $39.87 and a 200 day moving average price of $40.96.

Braze (NASDAQ:BRZE) last announced its quarterly earnings data on Thursday, September 5th. The company reported $0.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.12. Braze had a negative net margin of 22.01% and a negative return on equity of 25.89%. The company had revenue of $145.50 million during the quarter, compared to analysts’ expectations of $141.32 million. During the same quarter in the prior year, the company posted ($0.30) EPS. The business’s revenue was up 26.4% on a year-over-year basis. As a group, equities research analysts anticipate that Braze will post -1.02 EPS for the current year.

Insiders Place Their Bets

In other Braze news, insider Myles Kleeger sold 9,178 shares of Braze stock in a transaction on Friday, August 16th. The shares were sold at an average price of $41.37, for a total transaction of $379,693.86. Following the completion of the transaction, the insider now directly owns 206,340 shares of the company’s stock, valued at $8,536,285.80. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, insider Myles Kleeger sold 9,178 shares of the business’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $41.37, for a total value of $379,693.86. Following the completion of the transaction, the insider now owns 206,340 shares of the company’s stock, valued at $8,536,285.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Isabelle Winkles sold 10,000 shares of the business’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $45.15, for a total value of $451,500.00. Following the transaction, the chief financial officer now directly owns 216,208 shares of the company’s stock, valued at approximately $9,761,791.20. The disclosure for this sale can be found here. Insiders sold a total of 186,465 shares of company stock valued at $8,054,420 over the last ninety days. 24.03% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of BRZE. Principal Financial Group Inc. grew its holdings in shares of Braze by 24.9% during the fourth quarter. Principal Financial Group Inc. now owns 116,989 shares of the company’s stock worth $6,216,000 after purchasing an additional 23,322 shares during the last quarter. Norges Bank bought a new stake in shares of Braze during the fourth quarter worth about $37,584,000. Assetmark Inc. bought a new stake in shares of Braze during the fourth quarter worth about $580,000. US Bancorp DE grew its holdings in shares of Braze by 2,518.1% during the fourth quarter. US Bancorp DE now owns 11,729 shares of the company’s stock worth $623,000 after purchasing an additional 11,281 shares during the last quarter. Finally, Orion Portfolio Solutions LLC bought a new stake in shares of Braze during the fourth quarter worth about $759,000. Institutional investors and hedge funds own 90.47% of the company’s stock.

About Braze

Braze, Inc operates a customer engagement platform that provides interactions between consumers and brands worldwide. The company offers Braze software development kits that automatically manage data ingestion and deliver mobile and web notifications, in-application/in-browser interstitial messages, and content cards; REST API that can be used to import or export data or to trigger workflows between Braze and brands' existing technology stacks; Partner Data Integrations, which allow brands to sync user cohorts from partners; Data Transformation, in which brands can programmatically sync and transform user data; and Braze Cloud Data Ingestion that enables brands to harness their customer data.